The won-dollar exchange rate opened at 1,480.6 won on the 9th, up 10 won from the previous day.
This is seen as the result of Israel's attack on Lebanon despite a U.S.-Iran cease-fire agreement. Israel carried out airstrikes on Hezbollah, a pro-Iran armed faction in Lebanon. When geopolitical risks persist, investor appetite for risk assets weakens in the markets. In that case, the won, which is not a reserve currency, tends to fall.
According to local media overnight, Israel carried out airstrikes across Lebanon on the 8th (local time). Lebanon's Health Ministry said at least 182 people were killed and 890 were injured in the Israeli strikes. The same day, The Times of Israel and Reuters reported that the Israeli prime minister's office issued a statement saying, "The two-week cease-fire does not include Lebanon." In response, Iran's Islamic Revolutionary Guard Corps (IRGC) also said in a statement, "If the acts of aggression against Lebanon do not stop, we will inflict a bitter retaliation on the evil aggressors."
The Strait of Hormuz, which was expected to open with the cease-fire agreement, was sealed again. That day, Iran's state-run Press TV reported that tankers attempting to pass through the Strait of Hormuz were turning back.
Meanwhile, the first end-of-war talks between the United States and Iran are scheduled to take place on the 11th, local time, in Pakistan.